Case Study: Transforming a Downtown San Diego Condo to Double Rental Income
What if you could double your rental income with just a few strategic design choices? This case study showcases how we transformed our downtown San Diego condo into a high-demand rental property, achieving twice the median rent price through thoughtful and impactful interior design generating 31k in just 6 months. This project showcases how our design expertise not only created a luxurious, functional living space but also impressed both owners and guests alike.
Property Details
Location: Downtown San Diego
Size: 650 sqft condo with a 100 sqft balcony
Condition Before Redesign: Built in 2007 in good condition
Design Objectives
Our condo needed to fulfill three key objectives:
Personal Comfort and Style: We wanted a stylish and comfortable home that matched our personality. Every inch of the condo had to be maximized for functionality, from kitchen drawer design to a multi-functional built-in.
Renter-Proof and Luxurious: As frequent travelers, we needed the condo to be renter-proof with durable, high-quality finishes. Inspired by our stays in luxury hotels, we included features like a TOTO electric bidet and voice-controlled utilities.
Investment in ROI: With a realtor for a husband, every investment had to offer a financial return. Bold design choices needed to solve practical problems for future owners and renters, enhancing the condo's market value.
Design Process
Key Changes and Improvements:
New Furniture: Carefully selected for style, comfort, and durability, including a vanity area in the bedroom that doubles as a second desk.
New Kitchen: Modern, functional, and stylish with hidden small appliances and a mirrored backsplash to create the illusion of space and light PLUS an added kitchen island to maximize prep space.
Electric Fireplace: Added warmth and a focal point to the living area.
Multi-Functional Built-In: Includes a desk for work-from-home users, a bookcase, hidden storage, and a 100" screen.
Patio Transformation: New furniture, BBQ area, and gas firepit to create an inviting outdoor space.
Bathroom Upgrades: New hardware and luxurious finishes.
Challenges Faced: Balancing personal style with the need to make the condo renter-friendly and ensuring all investments were strategic for long-term ROI.
Results
Rental Income Increase:
Before Redesign: Median rent for similar units was ~$2,500.
After Redesign: Achieved over $5,000, doubling the rental income.
Rental Speed and Occupancy:
The condo rented out within 3 days of listing and was booked for over 6 months straight.
Current Use:
This condo is our primary home, which is why we paused renting it. However, we list it whenever we travel, typically for 3-4 months at a time. For instance, during our latest travels from Colombia to New Zealand in 2023, we rented it out for $5,000 a month.
Client Experience
Our renters have been thrilled with the redesigned condo, reflected in numerous 5-star reviews and 100% extension rate for stays. Here’s what some of our guests had to say:
“There were a lot of small little touches and details that made me feel quite special and welcomed.”
“Would definitely recommend anyone visiting SD to stay here!”
“The apartment is amazing … the best apartment ever.”
“The 'Smart' features were so fun to use. It’s like the place that keeps on giving!!”
“The design was spectacular- I was so amazed to see it actually in person and so excited it was exactly like the pictures, which seemed too good to be true. ;)”
“It’s clear they put a lot of heart, soul and thought into the design, to make it just perfect. They truly thought of it all!! Place was also fully equipped, which was great and so helpful!”
“Loved my stay, hated having to leave, and would stay there again in a heartbeat! If you see it available, and looking for a place, grab it! :)”
Read more reviews in our AirBnB rental page.
Financial Impact
We have included before-and-after photos of the condo, showcasing the dramatic transformation. Additionally, Airbnb screenshots reveal that the condo generated almost $31,000 in just 6 months from four renters, with minimal involvement from us aside from turnarounds between guests.
Financial Impact:
Total Income in 6 Months and 1 week: $30,975.40
Number of Renters: 4
Occupancy Rate: Almost 90%
Conclusion
This case study demonstrates the power of thoughtful and impactful interior design. By focusing on personal comfort, renter-proof features, and strategic investments, we were able to double the rental income of our downtown San Diego condo. The transformation not only created a beautiful living space but also provided a significant return on investment, benefiting us and our renters.
Are you interested in turning your rental into a high-demand highly profitable property? Download Our FREE Guide to maximize your rental income by implementing a simple design hack proven to work!
Would you like me to personally help you maximize your rental space for higher profits? Book a Call Here and let’s discuss how we can turn your property into a high-demand rental!